Vulcan Materials (NYSE: VMC) reported Q1 EPS of $0.46, $0.10 better than the analyst estimate of $0.36. Revenue for the quarter came in at $996.5 million versus the consensus estimate of $907.64 million.

Tom Hill, Chairman and Chief Executive Officer, said, "Our first quarter results represent a good start to the year and are consistent with our full-year expectations. Broad-based shipment growth, compounding price improvements and solid operating efficiencies in our aggregates business contributed to 17 percent growth in total revenues and 29 percent growth in operating earnings. These results demonstrate the strength of our unique aggregates-centric business model.

"Aggregates segment gross profit increased from $3.66 per ton to $4.07 per ton. This double-digit improvement in first quarter unit profitability builds on last year's results, and we are well positioned for further gains in our industry-leading unit profitability.

"Our key markets are benefitting from both robust growth in public construction demand and continued growth in private demand. Leading indicators, such as construction award activity, signal broad-based shipment growth across our footprint. Aggregates pricing momentum continues to improve – consistent with our full-year expectations. As a result, we reiterate our full-year expectations for 2019 earnings from continuing operations of between $4.55 and $5.05 per diluted share and Adjusted EBITDA of between $1.250 and $1.330 billion."

Demand and Earnings Outlook

Regarding the Company's full-year outlook for 2019, Mr. Hill stated, \"We delivered good incremental earnings in the first quarter, and we are well positioned to carry that momentum forward through the remainder of the year. Above-average demand growth in Vulcan markets compared to the rest of the United States further supports our positive outlook for shipment growth. The underlying direction of unit profitability remains clear, supported by our strategic and tactical focus on compounding pricing improvements and operating disciplines. We expect earnings from continuing operations of between $4.55 and $5.05 per diluted share and Adjusted EBITDA of between $1.250 and $1.330 billion. All other aspects of our expectations are consistent with our outlook provided in February."

GUIDANCE:

Vulcan Materials sees FY2019 EPS of $4.55-$5.05, versus the consensus of $4.78.

For earnings history and earnings-related data on Vulcan Materials (VMC) click here.